Business World

Wednesday 18 October 2017

Jameson owner Pernod posts 4pc sales increase

Dominique Vidalon

French spirits group Pernod Ricard posted a stronger-than-expected 4pc rise in first-quarter underlying sales on Thursday, helped by a strong performance in its top US market and improving demand in China.

The world's second-biggest spirits group behind Britain's Diageo however cautioned business in the Africa-Middle East region was getting tougher.

The owner of Mumm champagne, Absolut vodka and Martell cognac kept its forecast of a rise of between 2pc and 4pc in full-year profit from recurring operations after last year's 2pc growth.

For the first quarter ended September 30, Pernod Ricard reported sales of €2.248bn, a like-for-like rise of 4pc.

This was above analysts' estimates of 2.9pc for like-for-like growth in a Thomson Reuters poll.

Reuters

Also in Business